A Manufacturing Firm That Has Developed a New Product Can

question 119

Multiple Choice

A manufacturing firm that has developed a new product can use the NAICS codes to:

• A)identify the type of firms that constitute its target market.
• B)establish the potential banking partners.
• C)foster long-term relations with buyers.
• D)create mergers and joint ventures.
• E)test the quality of its new product.

---

Definitions:

Global Market

The international trading system comprising of buyers and sellers from different countries, facilitating the exchange of goods, services, and capital across borders.

Buying

The act of obtaining goods or services in exchange for money, or the procurement process in businesses.

Alibaba Group

A Chinese multinational conglomerate specializing in e-commerce, retail, internet, and technology.

Innovation

The process of creating new ideas, products, or methods, often leading to significant progress or change.